Hackers use AI technology to steal cryptocurrencies from top-secured crypto exchange user

Reportedly an OKX user’s account was hacked by unknown hackers & they successfully stole $2 million in cryptocurrencies from his account.

Artificial intelligence (AI) can enhance crypto trading by analysing market trends and automating trades, but it also poses risks. AI-driven trading bots can cause market volatility and be exploited for fraudulent activities. Additionally, the lack of transparency in AI algorithms may lead to unanticipated financial risks. Proper regulation is essential to mitigate these risks.

As we know several types of AI tools are currently available that can be used to create any type of digital product, even fake documents & fake identities. Over the past couple of years, bad actors have shown significant inclination against the misuse of AI to conduct a high level of scam. 

On 3 June 2024, Popular Chinese Crypto blogger Colin Wu shared a story of an OKX crypto exchange user. According to the report, hackers purchased the victim’s identity & further used that information to create fake AI-generated videos. 

Hackers used deep fakes and leaked personal data to change victims’ OKX passwords and two-factor authentication (2FA). They stole over $2 million worth of crypto assets from the victim’s account.

So all the centralised crypto exchange users need to be careful with deep fakes and always remain aware to protect personal information to prohibit identity theft.

Hacking incidents have been a common thing in the crypto space, so crypto people need to remain aware of cyber attacks from every side. 

Today another report by Wu disclosed that a Binance user lost his account control, following a plugin download which was promoted by Google plugin Aggr. Hacker drained $1 million worth of cryptocurrencies from victim’s Binance account.

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